CAUTION: It is very important that a bankruptcy case be filed and handled correctly. The rules are very technical and a misstep may affect your rights. Further, bankruptcy has long-term financial and legal consequences - hiring a competent attorney is strongly recommended. Even if you cannot afford to pay an attorney, you may be able to qualify for free legal services. For information about hiring an attorney, or about free legal services, contact your state or local bar association.

SPECIAL CAUTION REGARDING BANKRUPTCY PETITION PREPARERS: Beware of bankruptcy petition preparers who do not comply with all legal requirements. The role of non-attorney petition preparers is solely to type information on bankruptcy forms. They are barred by law from providing legal advice -- they cannot explain how to answer legal questions or assist in bankruptcy court. Petition preparers must sign all documents they prepare; print their name, address, and social security number on such documents; and furnish copies to you. They cannot sign a document on your behalf or receive payment from you for court fees.

The meeting of creditors required by section 341 of the Bankruptcy Code at which the debtor is questioned under oath by creditors, a trustee, examiner, or the U.S. trustee about his/her financial affairs. Also called creditors' meeting.

A written statement and verifying documentation filed by a creditor that describes the reason the debtor owes the creditor money. There is an official form (Form B410) for this purpose, which is then filed with the court.

An agreement by a chapter 7 debtor to continue paying a dischargeable debt (such as an auto loan) after the bankruptcy, usually for the purpose of keeping collateral (i.e. the car) that would otherwise be subject to repossession.

A release of a debtor from personal liability for certain dischargeable debts set forth in the Bankruptcy Code. A discharge releases a debtor from personal liability for certain debts known as dischargeable debts and prevents the creditors owed those debts from taking any action against the debtor to collect the debts. The discharge also prohibits creditors from communicating with the debtor regarding the debt, including telephone calls, letters, and personal contact.

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